While the Middle East may have a reputation for instability and occasional violence, there's no denying the vast riches it has to offer patient investors.

Just months after the announcement of $1 trillion worth of minerals in Afghanistan comes word of oil discoveries in Israel...

Israel may finally be able to tell its Middle Eastern neighbors where they can stick their oil  something the United States has wanted to do for years.

In one of the most sought-after parts of the world, 4.3 billion barrels of oil could be sitting in the Leviathan project beneath the Mediterranean, according to Noble Energy (NBL) and Israeli partner Delek (DGRLY.PK).

And that's in addition to 1.5 billion barrel estimates for Rosh HaAyin, just east of Tel Aviv...

Israel  heavily reliant on imported oil, producing just 4,000 barrels a day with 250,000 barrel per day demand  couldn't be happier.

Well, unless you also tell them that Leviathan could hold another 16 trillion cubic feet of natural gas on top of the eight trillion cubic feet of natural gas found in nearby Tamar...

Could Israel become a major exporter with these finds? Possibly...

Is there high probability of it joining OPEC with Iraq, Iran, and Saudi Arabia? Probably not...

But it does mean Israel could be within reach of the American energy self-sufficiency dream. As Israel is on its way to energy independence, it's most likely stirring anger among the oil hoarders of the Middle East.

>>>>Israel may finally be able to tell its Middle Eastern neighbors where they can stick their oil  something the United States has wanted to do for years. <<<<<<<

Wrong.

Perhaps the citizens of the United States would like to tell them to stick it, but our government has no such idea.

We have all the oil we need right here if the Government would get out of the way and let private enterprise supply it. In fact the oil companies should be forced to drill oil right here by regulation instead of letting them go on supplying foreign oil.

"How long before O figures out a way to insist that the oil belongs to the arabs rather than the jewish state."

If he can figure out how, he'll add it to the current peace negotiations between the Palestinians and Israel. Those talks are all about how to weaken Israel and get them to give up security in exchange for empty promises anyway.

Once in noting that most of the world’s oil was in the “wrong locations”, Golda Meir cited an old joke; “Moses led the Israelites through the desert for 40 years and ended up in the one place in the Middle East with no oil”

“4.3 billion barrels of oil could be sitting in the Leviathan project beneath the Mediterranean, according to Noble Energy (NBL)”

and according to Heiss Investments, there may be trillion barrels of oil under my bed so feel free to send investments (I prefer cash). Maybe this is true this time, but “oil found in israel, investments needed” is one of those annual headlines you see, typically pushed by some American businessman.

In anycase, if true, Israel would face challenges with the fields:
1: Leftists and islamists groups and countries would oppose it and giving any support for it (rigs etc).
2: The oil fields/rigs would face frequent harassments (”Oil Flotilla”), sometimes with armed code-pinkos. Hamas and Iran would also be able to attack it with modern weapons far away.

If Zero had any common sense he would realize that Israel, our reliable Middle East ally, could now possibly allow the west to become energy independent of the Arabs. Oh well, pardon the hallucinations.

The 4.3 billion barrels is speculative. The 1.5 billion barrels is based on drilling the field. Estimates for the amount of recoverable oil in the field are 10-20%. So, it’s certainly not a game changer but shows promise of much more oil. As for the gas reserves, they are already huge and proven.

19
posted on 09/03/2010 5:04:04 AM PDT
by saganite
(What happens to taglines? Is there a termination date?)

Wouldnt it be hilarious if it was discovered that the ME is, geologically speaking, a huge flat bowl shaped structure and the deepest point is under Israel. As the Arabs are running out of oil Israel is just discovering it ... and then someday they will get to sell their oil to the Arabs LOL.

Maybe western Europe will start supporting Israel more if they know they can get energy from them. And the Israelis can tell the damn Muslims to go to the hell they belong in since they will be oil self-sufficient.

Eh, I’d say that if New Hampshire were not already the ‘Switzerland of America’. If Alaska jump started a Hi Tech corridor they could probably be the Finland of America. Wisconsin and Minnesota (where there are a lot of Finns) are probably disqualified by virtue of the Left influence there.

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